Professional Documents
Culture Documents
YEAR IN REVIEW
THE WORLD BANK INSTITUTIONS
The core business of the World Bank is overcoming poverty and boosting economic growth in developing countries.
The International Bank for Reconstruction and Development (IBRD) lends to govern- Established 1944 | 187 Members
ments of middle-income and creditworthy low-income countries. This affiliate promotes Cumulative lending: $523.6 billion*
sustainable development through loans, guarantees, risk-management products, and non-
Fiscal 2010 lending: $44.2 billion for
lending analytical and advisory services. IBRD’s financial strength enables it to borrow in
164 new operations in 46 countries
capital markets at low cost and to offer clients favorable borrowing terms.
* Effective fiscal 2005, includes guarantees.
a. Reported in IBRD’s financial statements as “Income before fair value adjustment on non-trading portfolios, net and Board of Governors–approved transfers.”
b. Restated to reflect the impact of certain reclassifications to conform with the current year’s presentation.
The International Development Association (IDA) provides interest-free, long-term Established 1960 / 170 Members
loans—called credits—and grants to governments of the world’s 79 poorest countries, Cumulative commitments: $221.9 billion*
which have little or no capacity to borrow on market terms. IDA’s lending is financed by
Fiscal 2010 commitments: $14.5 billion for
contributions to IDA from donor countries, IBRD’s net income transfers, grants from the
190 new operations in 66 countries
International Finance Corporation (IFC), and IDA’s credit reflows.
* Effective fiscal 2005, includes guarantees.
a. Up to the fiscal year ended June 30, 2007, IDA prepared special-purpose financial statements. Effective July 1, 2007, IDA’s financial statements are prepared in conformity with
accounting principles generally accepted in the United States (U.S. GAAP).
This Annual Report, which covers the period from July 1, 2009, to June 30, CONTENTS
2010, has been prepared by the Executive Directors of both the Interna- Message from the President of the World Bank Group 1
tional Bank for Reconstruction and Development (IBRD) and the Inter- The Board of Executive Directors 3
national Development Association (IDA)—collectively known as the World
IBRD Role and Resources 5
Bank—in accordance with the respective bylaws of the two institutions.
IDA Role and Resources 6
Robert B. Zoellick, President of IBRD and IDA, and Chairman of the Board
World Bank Lending by Theme and Sector, Fiscal 2005–10 7
of Executive Directors, has submitted this report, together with the
accompanying administrative budgets and audited financial statements, Operational Summary 8
to the Board of Governors. Chapter 1 World Bank Work in a Volatile Climate 9
Annual reports for the International Finance Corporation (IFC), the Multi- Chapter 2 World Bank Work in the Field 19
lateral Investment Guarantee Agency (MIGA), and the International Centre Want to Know More? 32
for Settlement of Investment Disputes (ICSID) are published separately. CD-ROM: Full Financial Statements
All dollar amounts used in this Annual Report are current U.S. dollars unless otherwise specified. As a result of rounding, numbers in tables may not add to totals and percentages in figures may not add to 100.
Throughout this report, the terms “World Bank” and “Bank” refer to IBRD and IDA. “World Bank Group” refers collectively to IBRD, IDA, IFC, MIGA, and ICSID.
A true global community, the World Bank’s staff comprises more than 9,000 people from 165 countries.
More than 38 percent of the World Bank’s staff work in one of the Bank’s 120 country offices, where
an increased presence in the field helps the Bank better understand, work more closely with, and
provide faster service to its partners in client countries.
MIDDLE EAST AND NORTH AFRICA EUROPE AND CENTRAL ASIA
FY10 New Commitments FY10 New Commitments
IBRD | $3,523 million IBRD | $10,196 million
IDA | $214 million IDA | $620 million
Portfolio of Projects | $8.7 billion Portfolio of Projects | $24.4 billion
Russian Federation
Russian Fed.
Belarus
Ukraine
Moldova
Mongolia
Romania Kazakhstan
Bulgaria Georgia Uzbekistan
Azerbaijan Kyrgyz Rep. China
Armenia
Turkmenistan
Turkey Tajikistan EAST ASIA AND PACIFIC
Afghanistan Rep. of
Algeria Tunisia Lebanon
Syrian
A.R. Iraq Korea FY10 New Commitments
Morocco Islamic Rep.
West Bank and Gaza of Iran Pakistan IBRD | $5,865 million
Jordan
Bhutan
Libya Arab Rep. Nepal
IDA | $1,652 million
of Egypt India
Bangladesh
Portfolio of Projects | $28.4 billion
Mexico
Dominican Myanmar Vietnam
Republic Mauritania
Jamaica Cape Verde Rep. of Lao P.D.R.
Belize Haiti Sudan Yemen
Eritrea Philippines
Guatemala Honduras Senegal Mali Burkina Niger Thailand
Nicaragua The Gambia Faso Chad Cambodia
El Salvador
Guinea-Bissau Nigeria Federated States of Micronesia
Panama Guinea Côte Djibouti Marshall
Costa Rica R.B. de Central Islands
Guyana d'Ivoire Ghana Benin African Ethiopia Sri Lanka
Venezuela Sierra Leone
Colombia Cameroon Rep.
Liberia Palau
Suriname Malaysia
Togo Somalia
Equatorial Guinea Maldives
Uganda
Ecuador São Tomé and Principe Gabon Kenya Kiribati
Rep. of Rwanda
Congo
Kiribati Burundi Seychelles
Dem. Rep. Tanzania Solomon
of Congo Indonesia Papua Islands
Comoros
New Guinea
Angola Timor-Leste Tuvalu
Samoa LATIN AMERICA AND THE CARIBBEAN Peru
Malawi
FY10 New Commitments Brazil Zambia
Bolivia
IBRD | $13,667 million Madagascar
Vanuatu Fiji
I am pleased to introduce the 2010 Annual and transition countries’ shares at the Inter-
Report and the new Web site (www.worldbank national Finance Corporation (IFC) will increase
.org/annualreport/2010) that expands on the by 6.07 percent to 39.48 percent. These changes
Report. Together they capture today’s stark reali- in voting power help us better reflect the realities
ties, our innovative reforms, and financial and of the new multipolar global economy, where
field results. They illustrate the course we are developing and transition countries are now key
charting to create a New World Bank for a New players.
World. IFC will further boost its capital through
New World, New World Bank defines our vi- issuance of a hybrid bond and through retained
sion for an institution that serves the emerging earnings.
multipolar global economy. The World Bank The Multilateral Investment Guarantee Agency
Group’s transformation can bring about a mod- (MIGA) is changing its procedures and is modify-
ernized multilateralism that treats developing ing its convention to be more flexible and to ex-
countries as key actors. pand its range of services.
Although we hope the worst of the economic crisis is over, we face Our shareholders also endorsed our internal reform agenda and
a period of high uncertainty with a slow and uneven recovery and its post-crisis strategy. Through the strategy, we are sharpening our focus
attendant inevitable setbacks. Developing countries have been in- where we can add more value: targeting the poor and vulnerable, es-
creasingly providing the demand that is pulling the global economy pecially in Sub-Saharan Africa; creating opportunities for growth with
out of the crisis. Developing-world imports have accounted for more a special emphasis on agriculture and infrastructure; promoting global
than half of the increase in world import demand since 2000. Develop- collective action on issues from climate change and trade to agricul-
ing countries are importers of capital goods and services. Billions of ture, food security, energy, water, and health; strengthening gover-
people in developing countries are joining the world economy as their nance and anticorruption efforts; and preparing for crises.
incomes and living standards rise. The developing world’s share of These are all very important steps. Each part of the package ap-
global gross domestic product in purchasing power parity terms has proved is significant. Together they represent a dynamic transforma-
increased from 33.7 percent in 1980 to 43.4 percent in 2010. Prospects tion of the World Bank Group.
for growth for developing countries are good and are projected to Moreover, the Bank Group is adopting a range of operational reforms
exceed the recovery for higher-income countries. that enhance our effectiveness, accountability, transparency, and ability
At the Spring Meetings in April 2010, the World Bank Group’s share- to efficiently deliver financial and technical resources to our clients.
holders endorsed the World Bank’s first major capital increase—$86 Our investment lending reform will improve our focus on results,
billion—in more than 20 years. The additional funding will help create increase speed and delivery, and strengthen risk management. To
jobs and invest in infrastructure, small and medium enterprises, safety meet the shifting circumstances of our member countries, the Bank
nets, and more. is developing more customized investment-lending solutions. That
Our shareholders also fulfilled the commitment made at the means making finance investment easier and moving from supervi-
Annual Meetings in Istanbul last October to increase voting power sion of to implementation support for our clients.
at the International Bank for Reconstruction and Development (IBRD) On July 1, 2010, our new Access to Information Policy took effect,
for developing and transition countries by at least 3 percentage points, making the World Bank the leader among multilateral institutions on
bringing them to 47.19 percent—a total shift of 4.59 percent since information disclosure. In April we launched the Open Data Initiative,
2008. Developing-country voting power in the International Develop- which places the World Bank at the forefront of providing free and easy
ment Association (IDA) will rise to more than 45 percent. Developing access to information and data on developing countries.
The challenging economic, financial, and development conditions in ing the value of IDA transfers, in line with IBRD’s financial capacity. Directors
2009 and early 2010, and their adverse effects on the fight against pov- expressed support for a successful IDA16 replenishment through fairer
erty, dominated the fiscal 2010 work program of the Executive Directors. and wider burden sharing.
The Executive Directors took steps to position the World Bank Group to To enhance the World Bank Group’s operational capacity, efficiency,
confront existing and emerging global challenges by refining the institu- and effectiveness, the Executive Directors reviewed the Bank’s internal
tion’s strategic priorities and modernizing its governance structure, as reform initiatives, which included modernizing financial instruments and
well as approving record levels of lending. Directors discussed postcrisis knowledge services and reforming the service delivery model, human
strategic directions for the Bank, including priorities that will shape the resources, information management and technology, and budget pro-
World Bank Group’s efforts to address development challenges and en- cesses. As part of the initiative toward making IBRD and IDA more agile
hance its efforts to overcome poverty. They also discussed the need for and responsive to client country needs, Directors discussed strengthen-
global coordinated actions by multilateral institutions and the key role ing the organizational model, including options to make the Bank more
the Bank must play in fostering a new multilateralism. Directors discussed global and a review of the matrix management structure. The dialogue
actions to transform the World Bank Group through improvements in will continue in the coming fiscal year.
governance, accountability, and operational effectiveness as well as to Executive Directors approved a pilot IDA Crisis Response Window of
improve shareholder representation and to increase capital. The Directors $1.5 billion, including voluntary donor contributions, to help IDA coun-
agreed to increase the voting power of developing and transitional coun- tries hard hit by the economic crisis through declining external trade,
tries (DTCs) in IBRD by 3.13 percent, bringing it to 47.19 percent; the in- remittances, and foreign direct investment.
crease represents a total shift of 4.59 percent to DTCs since 2008. This re- The Executive Directors also approved a more open public information
alignment will be carried out through a selective capital increase of $27.8 policy that creates a major shift from a policy that spelled out what the
billion with paid-in capital of $1.6 billion. In addition the Directors agreed Bank may disclose to one that presumes the Bank will disclose any infor-
to an IBRD general capital increase of $58.4 billion, of which 6 percent, mation in its possession that is not on a well-defined list of exceptions.
or $3.5 billion, in paid-in capital will enhance IBRD’s financial capacity. The Executive Directors approved lending of $44.2 billion for IBRD and
Directors also emphasized the importance of the inclusive nature of the $14.5 billion for IDA. The Directors also considered 41 country assistance
general capital increase and an ongoing commitment to IDA by enhanc- strategy (CAS) products, of which 33 were prepared together with IFC. Of
From left to right (standing): Merza H. Hasan, Abdulrahman M. Almofadhi, Dante Contreras, Konstantin Huber, Alexey Kvasov, Toru Shikibu, Ambroise Fayolle, Sid Ahmed Dib, Susanna Moorehead, Rudolf Treffers,
Michael Hofmann, Toga McIntosh, James Hagan, Samy Watson, Pulok Chatterji, Louis Philippe Ong Seng; (seated) Jose A. Rojas, Sun Vithespongse, Giovanni Majnoni, Carolina Renteria, Ian H. Solomon, Anna Brandt,
YANG Shaolin, Michel Mordasini. Photo: Frank Vincent
IBRD Resources
IBRD obtains most of its funds by issuing bonds on international capital FIGURE 2
markets. In fiscal 2010 it raised USDeq 34 billion by issuing debt in 28 SOURCES OF IDA FUNDING | AS OF JUNE 30, 2010
BILLIONS OF DOLLARS
25.7
FIGURE 1
40 37.6
35.0 34.3 12.3
33.0
9.2 9.0
29.4 8.3
4.9
3.8 3.9
2.1
0.9 n.a.
IDA13 FY03–05 IDA14 FY06–08 IDA15 FY9–11
IDA internal resourcesa Donor compensation for MDRI debt forgiveness
IBRD and IFC net income contribution Donor contributionsb
IDA is the largest multilateral channel of concessional financing to the South Asia 19% 20% Africa
world’s poorest countries. Its funding supports countries’ efforts to boost
economic growth, reduce poverty, and improve the living conditions of
the poor. This fiscal year, 79 countries were eligible to receive IDA assis-
Middle East and
tance. (See http://www.worldbank.org/IDA.) North Africa 6%
13% East Asia and Pacific
IDA Financial Commitments
IDA commitments reached $14.5 billion in fiscal 2010. This funding in-
cluded $11.9 billion in credits and $2.7 billion in grants. The largest share of
IDA resources was committed to Africa, which received $7.2 billion, or 49 Latin America and
percent of total IDA commitments. South Asia ($4.6 billion) and East Asia the Caribbean 24% 18% Europe and Central Asia
($1.7 billion) also received large shares of committed funding. India and
Vietnam were the largest country recipients.
Commitments for infrastructure rose to $5.3 billion this fiscal year, a
9 percent increase over fiscal 2009. Significant support was also commit- FIGURE 4
ted to the Public Administration, Law, and Justice ($2.7 billion) and the TOTAL IBRD-IDA LENDING BY THEME | FISCAL 2010
Health and Social Services ($2.1 billion) sectors. The themes receiving the SHARE OF TOTAL LENDING OF $58.75 BILLION
largest commitments were the Human Development theme ($2.9 billion), Urban Development 9% 7% Economic Management
the Rural Development theme ($2.6 billion), and the Financial and Private
Environment and Natural
Sector Development theme ($2.1 billion). Trade and Integration 3% 7% Resources Management
the volume of new resources required to fund its lending program over
the subsequent three fiscal years. Under the 15th Replenishment (IDA15), Public Sector Governance 10% 14% Human Development
which covers fiscal 2009–11, total resources are $43.6 billion, of which new
donor contributions are $25.7 billion and donor MDRI compensation is
$4.9 billion.
The Mid-Term Review for IDA15 was initiated in November 2009. In ad- FIGURE 5
dition to reviewing the broad progress in the implementation of IDA15, TOTAL IBRD-IDA LENDING BY SECTOR | FISCAL 2010
Deputies endorsed the creation of a pilot Crisis Response Window (CRW), SHARE OF TOTAL LENDING OF $58.75 BILLION
approved by the Board in December 2009. To help mitigate the effects Water, Sanitation, and Agriculture, Fishing,
of the financial crisis, this mechanism allocated about $1.5 billion, includ- Flood Protection 7% 4% and Forestry
ing voluntary donor contributions, in redeployed Bank funds to 56 non- 8% Education
oil-exporting IDA countries for the remainder of IDA15. Transportation 15%
Negotiations over the 16th Replenishment (IDA16), which determine
the volume of resources required to fund IDA between 2012 and 2014,
17% Energy and Mining
take place during four meetings held between March and December 2010.
Public Administration,
These meetings provide donors with a key opportunity to guide IDA allo- Law, and Justice 18%
cations by themes and conditions on their commitments. IDA deputies
16% Finance
have already agreed on several themes for IDA16, including climate Information and
change, gender, fragile states, and aid effectiveness. Next year, before Communications < 1%
IDA16 takes effect on July 1, 2011, IDA will identify a set of monitorable
Industry and Trade 2% 12% Health and Other Social Services
actions against which performance will be measured.
Agriculture, fishing, and forestry 1,933.6 1,751.9 1,717.4 1,360.6 3,400.0 2,618.3
Education 1,951.1 1,990.6 2,021.8 1,926.6 3,444.8 4,944.5
Energy and mining 1,822.7 3,030.3 1,784.0 4,180.3 6,267.4 9,925.2
Finance 1,675.1 2,319.7 1,613.6 1,540.7 4,235.6 9,136.6
Health and other social services 2,216.4 2,132.3 2,752.5 1,607.9 6,305.5 6,792.0
Industry and trade 1,629.4 1,542.2 1,181.3 1,543.5 2,806.5 1,251.3
Information and communications 190.9 81.0 148.8 56.5 329.2 146.3
Public administration, law, and justice 5,569.3 5,857.6 5,468.2 5,296.4 9,491.6 10,828.2
Transportation 3,138.2 3,214.6 4,949.0 4,829.9 6,260.6 9,001.9
Water, sanitation, and flood protection 2,180.3 1,721.0 3,059.4 2,359.9 4,364.9 4,102.8
SECTOR TOTAL 22,307.0 23,641.2 24,695.8 24,702.3 46,906.0 58,747.1
Africa was hard hit by the global and solar) and $441 million for low-
financial crisis, with growth declin- carbon energy efficiency compo-
ing from 5.0 percent in 2008 to nents. IBRD also increased support
just 1.6 percent in 2009. The im- to middle-income countries by
pact of the crisis will be lasting: 20 providing countercyclical funding;
million more people in Africa will sharing knowledge on new areas,
be in extreme poverty in 2015. such as climate change; offering
Despite the severity of the new thinking on how to promote
crisis, Africa is recovering rapidly, public-private partnerships; and
thanks to more than a decade of advancing education and health in
prudent macroeconomic policies innovative ways.
by many countries and to the The Bank is also actively engaged
sound responses of policy makers in the aid effectiveness agenda in
during the crisis. In the context The $105 million World Bank funding to the Dakar-Diamniado Toll Highway in coordination with other develop-
Senegal is one of many recent projects designed to help Africa tackle the challenge
of financial and private sector de- ment partners. The focus is multi-
posed by about 10 million youth entering the continent’s job market each year. It
velopment, Rwanda is the first included efforts to empower young entrepreneurs, like this street vendor in Dakar, to fold: encourage country ownership
Sub-Saharan country to be con- find jobs in the formal private sector. Photo: Arne Hoel through more capacity building
sidered the world’s top reformer, and strengthened country systems;
according to the Doing Business promote ownership of the design,
2010 report. Countries that had fiscal space, such as Tanzania and Zambia, implementation, and evaluation of development programs by Africans and
ran modest fiscal deficits; those that did not, such as Ghana, contracted. As their governments and peoples; sharpen the focus on achieving develop-
a result growth is projected to accelerate, albeit at below-trend rates, to 4.5 ment results; and ensure that the poor participate in and benefit from the
percent in 2010 and 5.1 percent in 2011. fruits of growth and development. Many of these changes are made possible
by the Bank’s systematic use of the Africa Action Plan (AAP) as the framework
World Bank Assistance for delivering IBRD and IDA support to the region and by the increased pres-
The Bank—one of Africa’s most important development funding part- ence on the ground: the number of internationally recruited staff based in
ners—significantly increased its funding to the region this fiscal year. Total field offices, including offices in postconflict and fragile states, rose to 267 in
IBRD/IDA lending rose to $11.4 billion, with most of the funding coming 2010, up from 153 in 2007. Field-based offices were also granted greater de-
from IDA, which provided a total of $7.2 billion, including $1.7 billion in cision-making authority, with the share of Bank tasks directly managed from
grants. The largest single loan made to the region was a $3.75 billion IBRD the field rising from 25 percent in 2007 to 32 percent in 2010.
credit to Eskom Holdings Ltd., South Africa’s state-owned utility. Approved
by the Board in April 2010, the loan will finance construction of a 4,800 Increasing Agricultural Output
megawatt coal-fired power plant that will use cleaner coal supercritical Bank funding was aimed at expanding yields and agricultural com-
technology. The funding includes $260 million for renewable energy (wind petitiveness. Funding to develop commercial agriculture and outgrower
The financial crisis hit Europe and ing restore growth and employ-
Central Asia harder than any other ment in Turkey; Kazakhstan’s $1
region in the world, and recovery billion DPL supports fiscal and fi-
there will be slower than else- nancial reforms; a $400 million DPL
where. GDP grew at a robust rate is helping rehabilitate Ukraine’s fi-
of about 7 percent in 2007 before nancial sector; and two DPLs of
contracting to about –6 percent $100 million each for Serbia aim to
in 2009. Because the drivers of improve the efficiency of the coun-
precrisis growth—capital flows, try’s public sector and further
high commodity prices, and strong strengthen the environment for
growth in export markets—are private sector–led growth.
unlikely to return quickly, growth
in 2010 is projected to be about The majority of working-age Roma in Europe and Central Asia, such as these women Working with Partners
4 percent, and prospects for in northern Bulgaria, lack sufficient education to fully participate in the labor mar- The Bank has expanded its part-
2011–13 are only slightly better. ket. Through the Roma Education Fund, the Bank aims to provide scholarships, nership with the European Union
What started as a financial crisis teacher training, and academic support. Photo: Scott Wallace (EU)—cofinancing international re-
risks becoming a social and hu- form packages, providing advisory
manitarian crisis, with rising un- services to member states on EU
employment and dimmer economic prospects making life even harder for issues and to potential candidate countries on accession issues, and ex-
those already poor. Before the crisis the number of poor and vulnerable panding work on regional energy issues.
people in the region was projected to fall by 15 million. Instead it rose In February 2009 the World Bank Group, the European Bank for
by 13 million in 2009, with Armenia, Georgia, the Kyrgyz Republic, and Reconstruction and Development, and the European Investment Bank
Moldova particularly affected. The unemployment rate rose across the re- launched the Joint International Financial Institutions Action Plan to
gion, exceeding 10 percent in 2009 in Estonia, Hungary, Latvia, Lithuania, support banking systems and lend to the real economy in Central and
the Slovak Republic, and Turkey. GDP fell in 20 of the region’s 30 countries Eastern Europe—providing more than €16.3 billion in crisis-related
in 2009, with annual national GDP growth ranging from 18 percent in support to financial sectors in the region by the end of 2009. The Bank
Latvia to 9.3 percent in Azerbaijan. also participated in the European Bank Coordination Initiative—or
Vienna Initiative—to foster dialogue between home- and host-country
World Bank Assistance banking supervisors, banks, the European Commission, and interna-
Responding quickly to requests from countries in the region for help in ad- tional financial institutions. The Bank’s Vienna Centre for Financial Re-
dressing the crisis, the World Bank provided record lending of $10.8 billion porting Reform is partnering with the governments of Austria, Japan,
in support, including $10.2 billion in IBRD loans and $0.6 billion in IDA cred- Luxembourg, the Netherlands, and Switzerland to improve regulation
its and grants. Much of the lending—$8 billion—was delivered in the form of financial reporting in both EU member states and several Europe and
of development policy loans (DPL). For example, a $1.3 billion DPL is help- Central Asia countries.
LATIN AMERICA AND THE CARIBBEAN LATIN AMERICA AND THE CARIBBEAN
IBRD AND IDA LENDING BY THEME | FISCAL 2010 IBRD AND IDA LENDING BY SECTOR | FISCAL 2010
SHARE OF TOTAL OF $13.91 BILLION SHARE OF TOTAL OF $13.91 BILLION
Public Sector Governance 14% 25% Human Development Information and Communications < 1% 2% Industry and Trade
The Middle East and North Africa work agreements. The Bank also
region has weathered the eco- engaged in extensive economic
nomic and financial crisis better monitoring and provided sup-
than more globally integrated re- port for economic diversification.
gions, but the impact on poverty It completed a mid-term review
reduction has been deep. Regional of the Oman Vision 2020 exer-
GDP growth fell to 1.9 percent in cise that had been prepared
2009, down from 3.0 percent in with Bank support in 1995. Di-
2008; it is projected to rebound to versified exporters linked to the
4.4 percent in 2010. Across the re- GCC, such as Djibouti, Jordan,
gion the crisis has played out in and Lebanon, have been af-
different ways in different country fected by second-round impacts
groups. of the crisis, but these countries
The Morocco Water Sector Development Policy Loan has contributed to Morocco’s
water reform efforts. Such assistance has increased the number both of rural people are likely to rebound as the GCC
World Bank Assistance who have access to potable water and of poor households that are connected to recovers.
New commitments for IBRD lend- piped water and sewage services. Photo: Julio Etchart
ing increased from $1.6 billion in Meeting the Needs of
fiscal 2009 to $3.5 billion in fiscal Other Oil Exporters
2010, with development policy op- Among other oil exporters, in-
erations accounting for about half creases in production, extensive re-
the total. IDA support rose nearly liance on natural gas, or both, partly
25 percent to $214 million in fiscal 2010, all of it in the form of grants. compensated for the drop in oil prices. Barring destabilizing political devel-
opments in key countries, a moderate rebound in growth is expected in
Responding to the Recession in the GCC and Countries Tied to It these countries in 2010.
Drops in oil prices and production have hurt the countries of the Gulf Algeria’s nonoil and gas sectors continued to grow in fiscal 2010, sus-
Cooperation Council (GCC), which responded aggressively by drawing on tained by large public investment programs financed with hydrocarbon
their significant financial reserves. Prospects for these countries are closely revenues. The Bank reengaged in Algeria, providing support in addressing
linked to demand for oil and gas. economic diversification; in designing, monitoring, and evaluating public
The Bank’s Reimbursable Technical Assistance program is becoming expenditures and social and economic policies; and in the narrowing of
more strategic in the GCC countries. Bahrain and Qatar signed new frame- spatial disparities. In Iraq the $250 million First Programmatic Fiscal Sus-
MIDDLE EAST AND NORTH AFRICA MIDDLE EAST AND NORTH AFRICA
IBRD AND IDA LENDING BY THEME | FISCAL 2010 IBRD AND IDA LENDING BY SECTOR | FISCAL 2010
SHARE OF TOTAL OF $3.74 BILLION SHARE OF TOTAL OF $3.74 BILLION
Assistant Editor
Michael Jelenic
Editorial Production
Susan Graham
Rick Ludwick
Web Design/Production
Lisa Shenouda
Web Content
Davor Kunc
Print Production
Denise Bergeron
Andrés Meneses
© 2010 The International Bank for Reconstruction and Development / The World Bank The World Bank InfoShop in Washington, DC, is a one-stop shop for economic
1818 H Street NW development literature and a source of information on World Bank project activities.
It carries publications from a variety of publishers as well as documents per the
Washington DC 20433 World Bank’s disclosure policy requirements. (See www.worldbank.org/infoshop.)
Telephone: 202-473-1000
Country-specific information can also be obtained from public information centers
Internet: www.worldbank.org
in country offices worldwide.
701 18th St NW
Washington DC 20433
All rights reserved Monday–Friday, 9:00 a.m.–5:00 p.m.
1 2 3 4 13 12 11 10 Telephone: 202-458-4500 (9:30 a.m.–3:30 p.m.)
Facsimile: 202-522-1500
E-bookstore: www.worldbankinfoshop.org
The boundaries, colors, denominations, and other information shown on any map in this volume do not
imply on the part of the International Bank for Reconstruction and Development / The World Bank any
judgement on the legal status of any territory or the endorsement or acceptance of such boundaries. ECO-AUDIT
The World Bank is committed to preserving natural resources. This report is printed
on chlorine-free recycled paper with 50 percent postconsumer waste in accordance
All queries on rights and licenses, including subsidiary rights, should be addressed to the Office of the with Green Press Initiative standards. See www.greenpressinitiative.org.
Publisher, The World Bank, 1818 H Street NW, Washington, DC 20433, USA; fax: 202- 522-2422; e-mail:
pubrights@worldbank.org. Saved: 54 trees; 17 million btus of total energy; 5,131 lbs. of net greenhouse gases;
24,710 gallons of wastewater; and 1,500 lbs. of solid waste.
ISSN: 0252-2942
ISBN: 978-0-8213-8376-6
eISBN: 978-0-8213-8601-9
DOI: 10.1596/978-0-8213-8376-6
THE WORLD BANK
ISBN 978-0-8213-8376-6
1818 H St NW 90000
Washington, DC 20433 USA
Telephone: 202-473-1000
Facsimile: 202-477-6391
Web site: www.worldbank.org/annualreport/2010 9 780821 383766